At a Glance
- Tasks: Manage pension risk transfer transactions and develop cash flow models.
- Company: Join Standard Life, a leader in retirement solutions with over 200 years of experience.
- Benefits: Enjoy a salary from £65,000+, 38 days annual leave, and private medical cover.
- Other info: Flexible working options and a supportive environment for personal growth.
- Why this job: Make a real impact on people's retirement journeys while growing your actuarial skills.
- Qualifications: Qualified or near qualified Actuary with cash flow modelling experience.
The predicted salary is between 22430 - 27414 £ per year.
This role would ideally be based in our London office but we are also open to hiring in Edinburgh/Telford/Birmingham, with some flexibility to work between the office and home. We will discuss what is important to you and balancing this with business requirements during the recruitment process.
Career Family and Level: Niche: Specialist Band 2
Salary and Benefits: from £65,000+ (subject to experience), plus bonus, private medical cover, 38 days annual leave, excellent pension, 12x salary life assurance, career breaks, income protection, 3x volunteering days and much more.
We’re looking for a PRT Pricing Actuary who is a strong actuarial professional with experience in cashflow modelling, assumption setting and developing bespoke solutions for complex pension risk transfer transactions, to help us shape better retirements across the UK. In our Defined Benefits Solutions team, you’ll play a key role in managing in-force bulk annuity transactions, leading cashflow modelling and pricing activities, and delivering complex post-transaction projects. This is a great secondment opportunity, that will be hired on a 12-months basis.
Who are we? We’re Standard Life, a retirement specialist focused entirely on retirement savings and income. We champion the belief that everyone’s journey to and through retirement can be better, and for more than 200 years, we’ve been helping our customers plan and prepare for their financial futures. Life today is increasingly complicated, uncertain and unpredictable. People move through different careers, face unexpected moments and navigate important choices. We offer our colleagues flexibility, trust and benefits that work for whatever life brings. In return we expect curiosity, connection, accountability and high standards. We make room for what matters - so you can bring your best, every day.
Key Responsibilities
- Working with the Pricing Managers on the ongoing management of our book of Pension Risk Transfer transactions
- Working closely with key internal and external stakeholders such as Client Services in executing data cleanses, including GMP equalisation implementation and the transition to buyout
- Leading the production of cash flow and pricing models for PRTs, ensuring robust controls and processes are followed
- Working with others to navigate complexities and non-standard requests, driving thinking on solutions
- Development, coaching and training of junior members of the team
- Leading on project management to ensure that key contractual requirements and timescales are met
- Building, developing, documenting, running and maintaining actuarial models
- Presenting technical content with confidence to internal and external stakeholders
What are we looking for?
Qualifications: Be a qualified Actuary or near qualified Actuary
Experience & Knowledge (Essential):
- Practical experience of actuarial cash flow modelling, including development of models for bespoke projects and exercises, and application of actuarial methodologies for setting assumptions
- Excellent technical knowledge of defined benefit pensions (including an understanding of modelling of GMP benefits, franking and deferred member benefit calculations)
- Ideally have an appreciation of financial services companies and the regulatory environment in which they operate, including Solvency II and the Matching Adjustment along with experience of bulk annuity modelling and pricing
Skills and Personal Attributes
- Strong problem solving, communication and analytical skill
- Ability to work quickly and accurately with a high attention to detail
We want to hire the whole version of you. We are committed to ensuring that everyone feels accepted and welcome applicants from all backgrounds. If your experience looks different from what we’ve advertised and you believe that you can bring value to the role, we’d love to hear from you. If you require any adjustments to the recruitment process, please let us know so we can help you to be at your best.
PRT Pricing Actuary (12 months Secondment) employer: Phoenix Group
At Standard Life, we pride ourselves on being an exceptional employer, offering a supportive and flexible work environment in our London office. With a strong focus on employee well-being, we provide generous benefits including 38 days of annual leave, private medical cover, and opportunities for career growth, all while fostering a culture of trust, accountability, and collaboration. Join us to make a meaningful impact in the Pension Risk Transfer sector and enjoy a workplace that values your contributions and personal development.
StudySmarter Expert Advice🤫
We think this is how you could land PRT Pricing Actuary (12 months Secondment)
✨Tap into Campus Networks
If you're still in uni, don’t forget to engage with your campus's career services and attend finance-related events. Banks often do presentations and recruitment drives on campus, so put yourself out there and make use of these opportunities to show off your passion for the field.
✨Get Certified
Consider pursuing relevant certifications like the CFA or ACCA while you’re job hunting. They not only beef up your CV but also connect you with professional bodies which can lead to networking opportunities and even job openings in banking and financial services.
✨Connect on Professional Platforms
Join finance-focused groups on platforms like LinkedIn and engage in discussions. This can really help you stand out from the crowd, allowing potential employers to see your knowledge and interest in industry trends. Plus, you might stumble upon job postings shared exclusively within the group.
✨Apply Directly and Be Proactive
Don’t shy away from reaching out directly to firms like Phoenix Group. Use their websites and apply through them, but also consider following up with a polite email to express your enthusiasm. Being proactive can make a huge difference in getting noticed in the competitive financial services sector.
We think you need these skills to ace PRT Pricing Actuary (12 months Secondment)
Some tips for your application 🫡
Show Off Your Numbers!:In the banking and financial services world, quantifiable achievements are key. Make sure your CV highlights your grades in relevant subjects, any financial certifications you hold, and specific projects where you've delivered measurable results. Employers love to see how your skills translate into real-world success.
Tailor Your Cover Letter to the Role:When applying for a full-time position, your cover letter should make a direct connection between your experience and the job description. Don't just state your enthusiasm for finance—dive into how your background in banking or financial analysis sets you apart. Let your passion shine through while being specific about what you can bring to Phoenix Group.
Include Relevant Financial Software Experience:If you've worked with financial modelling tools or software like Excel, SAP, or specific analytical tools during your studies or internships, bring that up! Highlighting your proficiency can really make your application pop and show you're ready to hit the ground running in a full-time role.
Research and Reflect:Before hitting that 'apply' button on Phoenix Group's website, do a little digging. Look up their recent projects, values, and culture. Reflecting their ethos in your application can make a huge difference and show you’re genuinely interested in being part of the team!
How to prepare for a job interview at Phoenix Group
✨Brush Up on Financial Analysis Skills
Make sure you're well-versed in financial concepts and analytical techniques relevant to banking and financial services. Get comfortable with tools like Excel for modelling or financial forecasting, as technical questions in this area are common during interviews with Phoenix Group.
✨Prepare for Case Studies
Expect to tackle case studies that demonstrate your problem-solving skills in real-world banking scenarios. Familiarise yourself with the types of problems you might face—think risk assessments or investment evaluations—and be ready to articulate your thought process clearly.
✨Show Your Passion for Finance
Since this is a full-time position, employers at Phoenix Group will be keen to see your genuine interest in finance. Be prepared to discuss recent industry trends or news articles that excite you, showcasing your enthusiasm and engagement with the field.
✨Network with Industry Professionals
Before your interview, reach out to current or former Phoenix Group employees on platforms like LinkedIn. They'll offer unique insights into the company's culture and the interview process, which can give us a delightful edge in showcasing a good fit for the team.
